Login
Dubai
NEWS
  Dubai may help Abu Dhabi on 01/09/2010
  Sovereign sukuk beating company debt first time since May: Islamic Finance on 25/08/2010
  Dubai says it has no plans to seek rating, sell bonds on 25/08/2010
  First UK Islamic bond launches on 17/08/2010
  read all
FACT FILE
Location Dubai International Financial Centre (DIFC) – A Free Zone located within the Emirate of Dubai in the United Arab Emirates (UAE).
Time Zone Greenwich Mean Time + 3 hours during British Summer Time. + 4 hours remainder of the year.
Population DIFC: approx. 14,000. Workforce of Dubai: 1,478,000 (2007).
Capital Abu Dhabi is capital of UAE.
Airport Dubai International Airport.
Language DIFC: English. Dubai: Arabic.
Currency DIFC: AED and USD. Dubai: Dirhams (AED).
Dialing Code + 971 (4).
Centre's Expertise Banking and brokerage, wealth management, insurance, reinsurance and captives, Islamic finance, ancillary services registries since 1948.
Political System DIFC is governed by DIFC laws (common law). Dubai is governed by federal laws.
Legal System
Personal Income Tax None.
Corporate Income Tax None.
Exchange Restrictions DIFC Free Zone tax: 0%.
Tax Treaties
Permitted Currencies
Minimum Authorised Capital
Minimum Share Issues
Shelf Companies Currently there is no law or regulations that address shelf companies. However, a draft of the ‘special purpose company’ regime is currently being drafted.
Incorporation Time Scale 2 days for SPCs.
Incorporation Fees USD $1,000 for SPCs.
Annual Fees USD $1,000 for SPCs.
Minimum Number 2 directors for SPCs.
Residency Requirements None.
Corporate Directors Employee corporate service provider.
Meetings/Frequency None.
Disclosure N/A.
Bearer Shares Not allowed.
Minimum Number One.
Public Share Registry The information is made available to general public through DIFC website in a separate register titled ‘special purpose company register’.
Meetings Frequency Not required.
Annual Return Not applicable to SPCs.
Audit Requirements Not required for SPCs.
Registered Office DIFC: registrar of companies.
Domicile Issues Dubai: DIFC.
Company Naming Restrictions The conditions set out in Clause 2 of the DIFC companies regulations will apply.
ARTICLES
Dubai: Asset Holdings and Succession Issues
  Caroline Rao draws three case studies for three very different types of asset holder in Dubai, each of whom considers succession planning a vital consideration. (02/03/2010)
Dubai International Financial Centre
  Abdulla Mohammed Al Awar takes a detailed look at the inter-linked responsibilities of the DIFC, DFSA and DIFC Courts. (09/02/2010)
The DIFC – a new Jurisdiction for Sharia trust services
  Anthony R D'Aniello reports on Dubai's emergence as a new centre for trusts (07/01/2009)
Trust sector update
  Rosemary Marr provides an update of global developments in the trust sector, with particular emphasis on Jersey, Guernsey, Dubai and Switzerland. (02/01/2008)
  read all